The connection which formerly existed between the Government and banks was in reality injurious to both, as well as to the general interests of the community at large.
Sentiment: NEGATIVE
Instead, there were a variety of controls of which some could be influenced by bankers, some could be influenced by the government, and some could hardly be influenced by either.
In addition to their power over government based on government financing and personal influence, bankers could steer governments in ways they wished them to go by other pressures.
The Congress has had an uneasy relationship with banks and bankers since Alexander Hamilton. It took the United States until 1913 to set up a central bank. The Federal Reserve earned its hard-won independence over years of effort.
Banks were once places to hold money and were very careful in lending to finance families as they built a future - bought homes, bought cars, took out student loans.
The wealthy have installed their slaves in the highest spheres of the state. The banks are privately owned. They are concerned solely with profits. They have no interest in the common good.
The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks.
It would not be a bad idea if bankers were to go and sit occasionally with politicians in their political surgeries, where they might get a sense of the injustice that some of the community feel about the banks.
The thought for a long time was that banks needed to be too controlled, too regulated to be turned over to the Wild West of the Net. Then the credit meltdown hit, and we saw just how reckless these so-called safe and regulated institutions were.
The banks are not lending, at least from what I see. They were so wild and reckless back in the good times that they got burned terribly.
The banking collapse was caused, more than anything, by bad government policy and the total failure of bad regulation, rather than by greed.
No opposing quotes found.